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5. Canada's Trade and Investment Performance

Monthly Merchandise Trade Report

Monthly report on Canada's international merchandise trade performance, March 2013

PDF Version (229 KB)^*

Summary

Canadian merchandise exports rose 5.1% in March. Exports to the U.S. were up by 4.0% while exports to countries outside the U.S. rose by 7.9%. The rise in exports was largely supported by a rise in exports of energy products and motor vehicles and parts. Imports also increased – up by 1.7%, driven primarily by prices. With the rise in exports greater than the rise in imports, Canada posted a trade surplus of $24 million in March compared to $1.2 billion deficit in February. This was the first trade surplus since March 2012.

Canadian merchandise exports

Canadian merchandise imports increased by 1.7% to $40.4 billion in March, due primarily to a rise in prices. Eight of the eleven sectors registered increases in February. Relative to March 2012, imports were 2.3% higher. Year-to-date imports are 0.6% higher compared to 2012.

• Monthly import increases in March were led by energy products (up by 7.5% to $3.8 billion), metal and non-metallic mineral products (up by 5.8% to $3.5 billion), and aircraft and other transportation equipment and parts (up by 15.8% to $1.2 billion). Metal ores and non-metallic minerals also posted a large percent increase of 15.1%.
• The overall increase in imports was somewhat restrained by declines in basic and industrial chemicals, plastic and rubber products (down by 8.1%), electronic and electrical equipment and parts (down by 1.2%), and consumer goods (down by 1.6%).
• On a geographical basis, only imports from the EU declined (down by 2.2%). Imports from the U.S., Japan, and all other sources rose by 2.0%, by 2.8%, and by 2.3% respectively.

Canadian merchandise imports

Canadian merchandise imports increased by 1.7% to $40.4 billion in March, due primarily to a rise in prices. Eight of the eleven sectors registered increases in February. Relative to March 2012, imports were 2.3% higher. Year-to-date imports are 0.6% higher compared to 2012.

• Monthly import increases in March were led by energy products (up by 7.5% to $3.8 billion), metal and non-metallic mineral products (up by 5.8% to $3.5 billion), and aircraft and other transportation equipment and parts (up by 15.8% to $1.2 billion). Metal ores and non-metallic minerals also posted a large percent increase of 15.1%.
• The overall increase in imports was somewhat restrained by declines in basic and industrial chemicals, plastic and rubber products (down by 8.1%), electronic and electrical equipment and parts (down by 1.2%), and consumer goods (down by 1.6%).
• On a geographical basis, only imports from the EU declined (down by 2.2%). Imports from the U.S., Japan, and all other sources rose by 2.0%, by 2.8%, and by 2.3% respectively.

Canada’s merchandise trade balance

Canada’s merchandise trade balance improved, registering the first surplus in twelve months. From a deficit of $1.2 billion in February, Canada’s trade balance improved to a surplus of $24 million in March.

• Canada’s monthly trade surplus with the United States rose from $3.2 billion in February to $3.8 billion in March.
• Canada’s deficit with the rest of the world (non-U.S. trade partners) narrowed from $4.4 billion in February to $3.8 billion in March.

1. Dollar value ($ millions) is given for the trade balance.

2. Chinese trade data is only available on a customs basis, whereas all other data are on a balance of payments basis and are therefore not strictly comparable.

3. Bank of Canada commodity price index: a chain Fisher price index of the US dollar prices of 24 commodities produced in Canada and sold in world markets, with weights updated on an annual basis.

4. Canadian dollar effective exchange rate index: a Bank of Canada trade-weighted index which measures the value of the Canadian dollar vis-à-vis the currencies of its most important trading partners.

5. The time series trade data do not include revisions to the historical figures.

6. Bank of Canada commodity price index, see previous page for details.

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Date Modified:

2013-05-02